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GST DISTORTIONS TO BE COUNTER PRODUCTIVE

Goods and Services Tax - GST - By: - Dr. Sanjiv Agarwal - Dated:- 21-10-2016 Last Replied Date:- 31-10-2016 - The three day meeting of GST Council scheduled from 18th to 20th October, 2016 ended in two days only with a resolve to meet again on 3-4 November and then on 9-10 November, 2016 to discuss rate stricture and draft GST law respectively. The winter session of Parliament has already been convened from 16th November, 2016. As reported in media, there is no major breakthrough in two days mee .....

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ng majority changing as we now pay VAT, CST, Excise and Service Tax etc. It was promised that all cesses / surcharges will be subsumed in GST. In yesterday's meeting, it has been proposed that a new levy in the form of CESS will be imposed to meet the likely revenue loss of states. That cess is proposed to be the difference between present rate and GST rate, i.e., the differential. So we are back to same old regime. Why cess is required, better add in tax itself so that tax structure is not .....

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derstood and is not convincing. All these leaders ought to stop playing this game and come out with a conceptually clear white paper on GST indicating their intentions. Let the GST be deferred for some time till clarity is there and everyone understands what GST will be imposed on Indian public. The GST Council and the Government can not make fool of taxpayers any more in the garb of compensation to states and GST. It is now increasingly becoming clear that Government as well as GST Council is n .....

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o) cess They are talking of 14 percent revenue growth whereas the economy is growing at 7-8 percent. Even many of the businesses are not growing at that rate. Assessees are going to suffer a double whammy, one on account of rates, other on account of dual administrative control. Besides, one will have to live with too many complex provisions, some of which are draconian as per model law. There is not going to be ease of doing business but only ease would be to collect more taxes. The role of tra .....

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